Bitcoin NewsBlockchain NewsCryptocurrency News

Charlie Lee Thinks Lightning Network Is What Satoshi Nakamoto Wanted For Bitcoin (BTC)

As we’ve already shown you here, in a recent debate, Charlie Lee, founder of Litecoin (LTC), and Roger Ver, CEO, discussed Bitcoin (BTC) situation. While Roger Ver said that Bitcoin (BTC) lacks intrinsic value, Charlie Lee supported the Bitcoin network. He even posted on his Twitter account that he thinks Lightning Network is what Satoshi Nakamoto wanted for Bitcoin (BTC).

Buy Property with Cryptocurrency

“Bitcoin with Lightning Network more closely fits the Bitcoin whitepaper’s title: A Peer-to-Peer Electronic Cash System,” said Charlie Lee, Litecoin (LTC) founder, on Twitter.

According to Lee, Bitcoin broadcast network is peer to peer, although its payment is not p2p because of the lack of communication between the sender and the recipient of a Bitcoin (BTC) payment.

“The sender can ignore the p2p network and directly communicate the transaction to miners to the sender,” said Charlie Lee.

“Ironically, on-chain payments resemble more closely to a hub and spoke model where the mining pools are the hubs, and users just need to connect to those hubs to send payments,” Litecoin (LTC) founder added.

Charlie Lee Thinks Lightning Network Is What Satoshi Nakamoto Wanted For Bitcoin (BTC)

However, in the vision of Charlie Lee, the Lightning Network of Bitcoin (BTC) payments is what Satoshi Nakamoto wanted for Bitcoin (BTC). Also, Lee thinks that LN might be either P2P or not.

“LN payments have to be sent from peer to peer to get from the sender to the recipient. Both have to be online, just like other p2p networks like BitTorrent,” said Charlie Lee on Twitter.

Satoshi Nakamoto’s whitepaper for Bitcoin (BTC) envisioned something similar to Lightning Network indeed. Charlie Lee, the founder of Litecoin (LTC), also believes that.

“Because Lightning Network payments are peer-to-peer, they can work if the peers involved are disconnected from the rest of the internet and that Lightning Network closely fits Satoshi’s vision that’s mentioned in the Bitcoin whitepaper,” concluded Charlie Lee.

Related posts
Cryptocurrency NewsGlobal Crypto NewsLatest News

Crypto Traders Accumulate Shiba Inu Amidst Market Recovery

Bitcoin NewsCryptocurrency News

Edward Snowden: The Chinese Ban on Bitcoin Makes the Coin Stronger

Bitcoin NewsCryptocurrency News

KuCoin and Huobi to Gradually Ban Chinese Users While Bitcoin Hashrate Rises to Record a New All-Time High

Bitcoin NewsCryptocurrency News

Analyst Says the Crypto Market is Doing Exceptionally Good Amid Stock Market Sell-off and Bitcoin Will Eventually Reach $100,000

Send this to a friend